Sergio Naruhiko Sakurai

Ciclos políticos nas funções orçamentárias dos municípios brasileiros: uma análise para o período 1990 - 2005 via dados em painel

The main purpose of the present study is an investigation concerning the possibility of electoral and partisan cycles in the budgetary functions of Brazilian cities over the 1990 - 2005 period. For the first phenomenon, the econometric results provide evidence that health and sanitation, housing and urbanism, social assistance & retirement system and transports are the most susceptible functions to changes in election years. With reference to the partisan cycles, the influence of partisanship heterogeneity on the municipal expenditures is furthermore suggested by the outcomes. Finally, we have found indication of an expenditure composition effect over the time, also influenced by the Brazilian Law of Fiscal Responsibility.

Political business cycles: evidências empíricas para os municípios paulistas (1989 - 2001)

Este artigo analisa o comportamento fiscal dos municipios paulistas perante dois fatores de ordem politica: o calendario eleitoral e os diferentes partidos politicos dos prefeitos municipais, entre os anos de 1989 e 2001. Sao analisados componentes especificos do orcamento publico por meio de Econometria de dados em painel, sendo encontradas evidencias de impulsos positivos na despesa municipal nos anos eleitorais de 1992 e 1996, ao passo que, no tocante as agremiacoes partidarias, observa-se que: (i) PFL e o partido que mais investe; (ii) PTB, PPB/PDS e PMDB sao os partidos que mais despendem recursos em transferencias correntes. Adicionalmente, a Lei de Responsabilidade Fiscal parece exercer influencia significativa sobre o comportamento das despesas municipais.

Allocation of foreign direct investment across brazilian states

Foreign direct investment (FDI) has become increasingly important for the Brazilian economy: the ratio of FDI inflow to the countrys gross domestic product (GDP) increased from a 0.6% average in the 1980s to 2.5% from 2001 to 2010, according to data from UNCTAD. However, there is great inequality in the distribution of this investment among Brazilian federation units. This study aims at investigating the determining factors for the location of foreign direct investment across Brazilian states, based on an econometric study with panel data for the years 1995, 2000 and 2005. The results showed that foreign investment responded positively to consumer market size, quality of labor and transport infrastructure, but negatively to cost of labor and tax burden.